On April 17, 2024, the Loadstone Mining Company purchased the rights to a copper mine. The purchase price plus additional costs necessary to prepare the mine for extraction of the copper totaled $4,950,000. The company expects to extract 990,000 tons of copper during a four-year period, During 2024, 249,000 tons were extracted and sold immediafely. Required: 1. Calculate depletion for 2024 2. is depletion considered part of the product cost and included in the cost of inventory